CL Redux

Quote from NoDoji:

Very well. It was a clean trend day.



I just opened my platform to look at tonight's action. Regarding your first trade: Why would you short a confirmed demonstration of buying strength? Regarding your second trade: Why would you short when price is trending up?

The easy money is made in the direction of the trend. Wait for a test of previous resistance that fails, then short. Better yet, wait for a second test to fail, then really short :cool:
More...

short at 99.15
 
Quote from tycoonman:

short at 99.15
More...

still waiting for 98.

you were right though. horrible trend running on my end. truth is, i was having technical difficulties with my first trade, but the second one was a big time brain fart.
 
I think NoDoji is a better trader than me for 2 reasons.

1) No fear. No fear of letting a trade run to a target.

2) Does not revenge trade against a trend.

So to be at her level, I will work to solve these issues. One of the main things I need to correct which I just wrote in my rules of trading is to be able to stop trading when the market proves me wrong for the day. Hopefully, I will be able to follow this rule.
 
Quote from NoDoji:

Not trying to be flippant, but the fastest way to get crude oil news is to watch price. There's no way you can get the news, interpret it "properly" and react faster than the professionals who move price, which is why price tells you everything you need to know.
More...

Thanks for the input. I am not looking to interpret the news, I just know I always make more money trading when news gets price moving. I am just thinking through ideas on how I can increase my trading during those times. If I immediately got word on the news of what the Saudis were doing on Friday early in the morning, I'd have been jumping onto my charts to take all my setups.
I'm checking on a few sources but my guess is they'll be too pricey for my current budget.
 
Quote from Visaria:

Based on chart, i've been predicting 96 ish for the last week or so!!!

I think it must test those support levels there.

I'm short at 9890. Stop 25t.
More...

Stopped out overnight.

Rentered short at 9895, out just now at 98.52.
 
Quote from tycoonman:

that hurt pretty bad...just lost $225

looks to be leveling off, but who the eff knows. no more predictions.
More...

If $225 hurts "pretty bad", you shouldn't be trading this.

How much capital do you have allocated per contract?
 
Quote from oraclewizard77:

I think NoDoji is a better trader than me for 2 reasons.

1) No fear. No fear of letting a trade run to a target.
More...

I have this problem too :(

5 mins out of that trade, market falls another 25 ticks.
 
Quote from Visaria:

If $225 hurts "pretty bad", you shouldn't be trading this.

How much capital do you have allocated per contract?
More...

getting close to your 96 prediction...i think we'll see 97.50 before 9am est

i trade 1 contract at a time; trade CL with 8K and the rest is for ES. Generally don't trade the CL due to its volatility and speed, but im testing the waters out today. was on the wrong side on the first couple, but have ridden the trend down all night since then -- been pretty sweet (but im not getting hopes up -- profits go just as fast as they come in the CL).
 
You must log in or register to reply here.
Back
Top